While many businesses are grappling with challenging economic conditions, uniquely, T-Quip of Londonderry, N.H., is actually growing, expanding into new territories and hiring new employees for its excavator sales and wheel loader rentals.
“We’ve added a new sales representative, Leo Blais, to serve customers in northern New Hampshire, and we plan to hire two more sales representatives — one to cover western Massachusetts and one to cover western New Hampshire,” said Randall Sanderson, general manager of T-Quip.
Sanderson himself is a recent addition to the company.
“I joined T-Quip in August 2008,” he said, “to help the company buy and sell equipment and to add a global face to T-Quip by identifying foreign markets. It is a very good company.”
Contractors all over the East Coast have the opportunity to do business with the growing company. With offices in Londonderry, N.H., and Orlando, Fla., T-Quip can deliver equipment as far south as Miami and as far north as northern Maine.
But expanding territory and adding employees would be fruitless if T-Quip didn’t expand one other important part of its business.
“We bought many new pieces of equipment, increasing our rental inventory by more than 12 percent,” Sanderson said. “We now have more that 300 machines.”
More Than 300 Machines
“Dig it. Push it. Move it. Roll it. Grade it. Haul it. Rent it,” the T-Quip Web site proclaims.
The company is true to its word. Its digging, pushing, moving, rolling, grading and hauling fleet of used machines includes everything from excavators and wheel loaders to specialty equipment such as pulverizers, screening plants and sweeper attachments.
“If you need it, we’ll get it,” said Sanderson. “We’re not tied to one manufacturer or one type of equipment. We help customers find whatever they need.”
Customers browsing the company’s Web site will find a vast selection of machines from large 94,314-lb. (42,780 kg) dozers to 7,573-lb. (3,435 kg) skid steers. Crushers, screens, compactors, dozers, loader backhoes, excavators, dump trucks, forklifts, skid steers, wheel loaders, on-highway trucks, trailers, booms, buckets, thumbs, grapples and sweepers can all be found at T-Quip.
With tighter lending standards from banks, even companies with good credit may find that getting a loan is like searching for a needle at a 60-acre dirt excavation site.
“Today it is harder for businesses to obtain funding for the equipment they need to finish commercial construction jobs or to start new ones,” Sanderson said. “Companies are having a hard time getting approved for loans because of the credit crisis. T-Quip is working hard to provide customers with alternative avenues of financing equipment.”
One such avenue is rental purchase plans, whereby a portion of rental money can sometimes be applied to purchase a machine. Other options include long-term rentals and special lease packages.
“We have been working with Charles A. Barbera of Charles River Finance Corp. in Cambridge to develop lease packages,” Sanderson said. “Charles River Finance has millions of dollars available for equipment loans.”
In a down economy, it’s also important to keep weekly and monthly rental rates low, said Sanderson.
“That’s one of the reasons our company is still doing well. Our machines are affordable. That’s important in times like these.”
T-Quip gives what Sanderson describes as “substantial discounts for stimulus projects.”
“We support the stimulus act. It creates jobs and stimulates economic recovery,” Sanderson said. “It also funds road and bridge improvements that are important for public safety and economic growth. We’re giving stimulus contractors an extra discount on equipment to help with these important projects.”
Looking Out for the Little Guys
T-Quip provides equipment for many large companies and has many financing options for them, including “generous discounts for large projects.”
But T-Quip realizes that small contractors need help too.
“We work one-on-one with each company to find financial support,” Sanderson said. “We have many different ways for a company to finance a machine.”
T-Quip also offers equipment that small contractors look for such as skid steers and boom lifts, and it offers a convenient way for contractors to transport equipment.
“We offer delivery and pick-up services where we transport equipment to the job site and pick it up when the contractor is finished,” Sanderson said. “A lot of small contractors appreciate that, because they don’t always have a flatbed truck. Small contractors make up a lot of the industry and employ a lot of people, so we’re glad to be able to serve them.”
“We have factory trained technicians on staff,” Sanderson said. “We have a shop with four service bays and we have two service trucks that can help customers at the job site. We also have two low bed trucks to transport the equipment to the shop if necessary and our technicians have experience with all makes and models.”
T-Quip’s service manager, Scott Verney, has more than 20 years of experience, and the company recently hired Alan Langevin as the assistant service manager. Langevin has more than 20 years of experience servicing heavy equipment.
“Our rental representatives aren’t looking to make a quick rental. They want to get to know their customers, understand them and their needs. Maybe there are other things we can recommend as we try to offer a complete package composed of a good relationship built upon trust and great service,” Sanderson said.